Lollandster, thanks for your response and compliments!
Actually I don't think that I'm working on something cool... I'm just trying to learn the basics
Anyway, nowadays BLDC motors consume too much current (IMHO). It seems that an optimal configuration for a bicycle is having a high-end mid-motor, which would be able to absorb up to 50A in continuous and up to 100A in peak modes. Having a good Controller is also very important (programmable, should accept wide range of input voltages). Of course, good batteries are also important.
As for the Controller settings, I prefer to set it to 15A limit for the continuous current (just to reduce the current consumption) and 100Amps for peaks (just to provide a good acceleration on the hills for up to 10 sec). Having a 21-speeds bicycle would also help on hills and reduce the current consumption. On the flat, 48V 15A system (mid-motor 500RPM) should be good enough for reaching 50-60 km/h speed on the 26" bicycle.
So, these are my thoughts... You comments are more than welcomed!